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These nine year-end tax tips could save you money
Date Posted: December 11, 2013
The end of 2013 is nearing, which means tax time isn't far behind. While the holidays are top of mind for many Canadians this month, taking advantage of these simple tips now can save you money later.
The charitable donations you make throughout the year are declarable on your tax return. This year, the government of Canada is giving first-time donators, or those who haven't given in a few years, a boost for any donations made before December 31st.
Those with stock portfolios should review them before the end of the year. Any trades that you wish to appear on your 2013 tax return must be completed by December 23rd. Also keep an eye out for any shares you want to donate for a tax receipt without losing out on capital gains.
If you're collecting EI, or have received a large sum of money this year, now is the time to review and find out what to expect come tax time. Now is also the best time to collect receipts in one place so nothing is missing when it comes time to file.